The funding round forms part of a wider £20m financing package to accelerate the deployment of the HotSat constellation.
"With the invaluable new support from Adara Ventures, alongside the continued backing of our existing investor network, we’re accelerating our mission to deliver unparalleled thermal insights that empower industries and governments to take decisive climate action. The launch of HotSat-2 and HotSat-3 will bring us closer to a net-zero future by providing the data needed to address the most pressing environmental and energy challenges of our time."
The follow-on funding from BGF brings the company's total raised to £11.5m.
"This investment is a testament to the progress OSL has made since our initial collaboration with BGF. The infusion of £3.5 million is dedicated to continuing our trajectory of technological advancements and product development. Importantly, it enables us to invest in our most valuable asset—our people—creating job opportunities and reinforcing our commitment to excellence in business development."
The investment round was led by Boka Group Holdings to support product development and international growth.
"I’m delighted that we’ve secured funding to drive the continued development of our product and delivery of our mission. To have attracted investment now is a strong testament to the urgent need and overwhelming demand for our ground-breaking information intelligence tools to augment decision-making. I’m immensely proud of the company-wide sense of purpose that’s inspiring powerful AI innovation to strengthen our national security and increase the resilience of our commercial customers in today’s complicated threat-landscape."
The Norfolk space technology company closed the round with significant overfunding.
"It’s not everyday that we see a pitch which involves launching rockets! Gravitilab have seen excellent growth since inception in 2019 and is a fantastic example of the exciting innovation which we’re proud to see coming out of our region."
The Nottinghamshire security firm has secured backing from a US corporate investor to develop detection capabilities and hire specialists.
"This investment is going to drive our business forward and enable us to achieve our ambition of safely integrating small autonomous vehicles into general airspace."
